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Jan 1, 2013
01/13
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cliff. live in washington, d.c. with what just happened. >> reporter: we are waiting for the vice president to arrive on capitol hill. this is his chance to sell the deal to democrats. there is no vote planned on the floor, though one could come at any time after democrats meet. president obama and leaders say they are close to a deal but it is on a smaller scale. a deal would raise taxes on families making more than $450,000 and extend unemployment benefits. >> we will work on finding smarter ways to cut spending. but let's not let that hold up perecing americans -- protecting americas. >> reporter: here is where they have been struggling, automatic spending cuts to the trillion dollars mark. it would effect the defense department and social programs. >> wee using -- we are using an ax instead of a scalp. >> reporter: even if there is a vote tonight in the senate the house still has toapprove something and they have -- to approve something and they have already gone home. they will be back
cliff. live in washington, d.c. with what just happened. >> reporter: we are waiting for the vice president to arrive on capitol hill. this is his chance to sell the deal to democrats. there is no vote planned on the floor, though one could come at any time after democrats meet. president obama and leaders say they are close to a deal but it is on a smaller scale. a deal would raise taxes on families making more than $450,000 and extend unemployment benefits. >> we will work on...
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Dec 31, 2012
12/12
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the spending cuts and tax hikes are expected to take effect. >> the night before the fiscal cliff. the senate gave up until tomorrow. >> there is still time to reach an agreement. >> they dropped the demand to cut social security. >> i am optimistic we can live move legislation and get this averted before tomorrow. >> the taxes will go up on most americans. huge cuts kick in. >> i think it is obvious president obama wants us to go over the fiscal cliff. >> president obama blamed republicans. >> they say the biggest priority is making sure they deal with the deficit in a significant way. they are behaving in a way that they're only priority is that the tax breaks for the wealthiest americans are protected. blacks mitch mcconnell is vowing to find out. -- >> mitch mcconnell is vowing to find out. >> can the senate veteran help congress tumble to a deal on the last day? >> if we do go off the fiscal cliff, congress would be more likely to make a deal. members could claim they are cutting taxes. >> thank you. if america does fall off the fiscal cliff on the first of the year, maryland
the spending cuts and tax hikes are expected to take effect. >> the night before the fiscal cliff. the senate gave up until tomorrow. >> there is still time to reach an agreement. >> they dropped the demand to cut social security. >> i am optimistic we can live move legislation and get this averted before tomorrow. >> the taxes will go up on most americans. huge cuts kick in. >> i think it is obvious president obama wants us to go over the fiscal cliff....
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Dec 28, 2012
12/12
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. >> we should take social security off the table for the current phy fiscal cliff. >> do not cut social security. tom: many democrats pushing to keep social security off of the table in debt talks, we learn that the program is $48 billion in the hole for 2012, and small business authority barry sloan said that the entitlement programs are what got this country in this mess in the first place. i don't think that people pay attention to that. in the greenspan era they bumped up payroll taxes for excess money going in. about this is first time there are fewer people putting in than taking out. so government has to write a check. >> it is unfortunate, the lockbox was raided. there is nothing wrong with entitlement programs, but it is the growth of those programs that are problematic. with respect to social security, we're all living longer, people need to work a little bit longer, and social security will be there for many generations if we're prudent about it 9. tom: this is the third rail, even president bush could not get social security reform done, don't touch it, is the message in wor
. >> we should take social security off the table for the current phy fiscal cliff. >> do not cut social security. tom: many democrats pushing to keep social security off of the table in debt talks, we learn that the program is $48 billion in the hole for 2012, and small business authority barry sloan said that the entitlement programs are what got this country in this mess in the first place. i don't think that people pay attention to that. in the greenspan era they bumped up...
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Dec 26, 2012
12/12
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fiscal cliff, americans are coming back buying stuff out of retail stores. >> yeah. shibani: what about concerns cutting back on flights next year? >> fortunately the schedule data in advance shows airlines are getting ahead of the curve cutting proactively, mid-single digits in capacity january and february. if there is demand drop-off the pricing impact should be sort of mitigated because the supply proactively removed. consumers usually book air travel months in advance. what we see on the books in january and february looks great. david: before you go the two worst performers from your perspective, to my eyes were two of the best airlines, southwest and jetblue. what led to their, i don't want to say demise but they're going downhill? >> to be fair, they have had good runs here. the stocks i think are expensive right now. david: i see. >> talked about fee, right? as we all know if you watch nfl football game, southwest doesn't charge you for bagses. their commercials are everywhere. >> i love that about southwest. >> they have 4% roic trailing 12-month basis that
fiscal cliff, americans are coming back buying stuff out of retail stores. >> yeah. shibani: what about concerns cutting back on flights next year? >> fortunately the schedule data in advance shows airlines are getting ahead of the curve cutting proactively, mid-single digits in capacity january and february. if there is demand drop-off the pricing impact should be sort of mitigated because the supply proactively removed. consumers usually book air travel months in advance. what we...
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Dec 26, 2012
12/12
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my next guest that with the president about the budget cuts that will hit if we go over the fiscal cliff. we are talking about sequestration. burial blakely -- great to see you. >> i think the president has stated very clearly that the cuts will not happen. we have a need for the congress to join him back here and washington and get a deal done. dagen: are you worried that there is so much attention being paid to the automatic tax increases and not dealing with the sequestration that would hit your industry hard? >> you have it exactly right. the slashing cuts in federal programs will begin to affect everyone and affect us immediately. certainly, the defense industry is very worried. the readiness of our troops, the equipment they depend on, the technology that is the united states edged, that is what is really in peril here. we are all worried about that. we are worried about the layoffs that will come in the defense industry. dagen: have any of these cops already started to happen? what have you seen in the activities of these big companies? >> they have already had to start making pla
my next guest that with the president about the budget cuts that will hit if we go over the fiscal cliff. we are talking about sequestration. burial blakely -- great to see you. >> i think the president has stated very clearly that the cuts will not happen. we have a need for the congress to join him back here and washington and get a deal done. dagen: are you worried that there is so much attention being paid to the automatic tax increases and not dealing with the sequestration that...
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Dec 30, 2012
12/12
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cliff most of the attention is about taxes going up and that being the so called fiscal cliff but the other side of that cliff is that the massive spending cuts automatic cuts are kicking in at the beginning of next year. largely targeted at the pentagon. and what is interesting is all of this deal making we are talking about on capitol hill would really just focus on unemployment benefits and tax side of the cliff as i mentioned and most of deals it appears would not shut off the so called sequester that would hit the pentagon. on "fox news sunday" senator lindsey graham told chris wallace he got a call from the defense secretary suggesting these cuts are coming. lake a listen. >> i was called by leon panetta at 7:30 during dinner. >> secretary of defense. >> this is the failure of the supercommittee to find $1.2 trillion in cuts. half of the 1.2 falls on defense who already cut. he says if we do this we will shoot the defense department in the head and send out 800,000 layoff notices the beginning of the year. he is worried to death if we don't fix sequestration we will destroy the
cliff most of the attention is about taxes going up and that being the so called fiscal cliff but the other side of that cliff is that the massive spending cuts automatic cuts are kicking in at the beginning of next year. largely targeted at the pentagon. and what is interesting is all of this deal making we are talking about on capitol hill would really just focus on unemployment benefits and tax side of the cliff as i mentioned and most of deals it appears would not shut off the so called...
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Dec 31, 2012
12/12
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what we're doing here, we are not going to offset the fiscal cliff, just doing the bush tax cuts. we'll only take away about 11%, 12% of total economic impact of the so-called fiscal cliff, all of the policies brought together because you'll be letting the payroll tax expire, the refundable tax cuts expire, and the sequester will be doing and we won't be doing much deficit reduction. we'll be increasing the deficit. it is just, i think, hard to step back and take in the totality of congressional failure around this issue. >> well, let's talk about what exactly is likely to happen or is the threat of what will happen. talk about the pentagon. talk about federal workers. talk about obviously the unemploy unemployed whose benefits are going away. >> absolutely. the biggest -- the most dangerous thing, the fiscal cliff is the unemployment insurance. if we go over for a month we can sort of trick everything else. we can -- the irs can do some tricks to make it so you don't feel tax increases quickly. we can do tricks to make it so we don't lay off people at pentagon, we can furlough th
what we're doing here, we are not going to offset the fiscal cliff, just doing the bush tax cuts. we'll only take away about 11%, 12% of total economic impact of the so-called fiscal cliff, all of the policies brought together because you'll be letting the payroll tax expire, the refundable tax cuts expire, and the sequester will be doing and we won't be doing much deficit reduction. we'll be increasing the deficit. it is just, i think, hard to step back and take in the totality of...
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Dec 26, 2012
12/12
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tracy: a nice and shiny fiscal cliff. president obama cut his vacation short. we are tracking where it is headed next. we are expecting negotiations to continue tomorrow. there is talk now that that may not happen. time to head down to the new york stock exchange with nicole petallides. nicole: merry christmas to everybody. the vix, the fear index, has been to the upside. whether or not washington will solve the worries about the so-called fiscal cliff approaching quickly. here is a look at the dow. 13,100 even. most of the dow components are under pressure. hewlett-packard doing well and bank of america in the financial round. it really is being laid upon by the retailers. i no adam shapiro will add on to that. there is a look at some movers. michael cores down over 6%. tracy: i was in the balls this weekend. lori: crowded theater not like i thought it would be. adam shapiro in the newsroom with the details. i thought it was way busier last year than it was this weekend. >> no. here are some numbers. for the period of october to eight and december 24, sales gr
tracy: a nice and shiny fiscal cliff. president obama cut his vacation short. we are tracking where it is headed next. we are expecting negotiations to continue tomorrow. there is talk now that that may not happen. time to head down to the new york stock exchange with nicole petallides. nicole: merry christmas to everybody. the vix, the fear index, has been to the upside. whether or not washington will solve the worries about the so-called fiscal cliff approaching quickly. here is a look at the...
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Dec 31, 2012
12/12
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but avoiding the fiscal cliff is really not the goal here. cutting the deficit is. this is a case of gigantic political friendly fire in my view. we're targeting the wrong enemy. we should be targeting the deficit. >> i've read, dan, more carefully and it's extremely insightful. and one of the things that i take from you is that you're a markets guy who thinks about macro, and not just u.s. macro, but global macro. what i don't get about what you're saying now -- one thing i get very much about what you're saying now is a small deal doesn't solve anything except the immediate cliff problem and that's not the only problem we have. it's actually relatively minor, i agree with you. but if we engage in $500 billion fiscal contraction next year i think we're going to have a recession. as a guy who pays attention to macro, how does that help anybody? >> well, look, i actually -- one of the reasons i said, and it was a provocation of saying, the fiscal cliff, after the election, my view of where this was going was exactly where we are this morning. which is probably why yo
but avoiding the fiscal cliff is really not the goal here. cutting the deficit is. this is a case of gigantic political friendly fire in my view. we're targeting the wrong enemy. we should be targeting the deficit. >> i've read, dan, more carefully and it's extremely insightful. and one of the things that i take from you is that you're a markets guy who thinks about macro, and not just u.s. macro, but global macro. what i don't get about what you're saying now -- one thing i get very much...
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Dec 28, 2012
12/12
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cliff. >> spending cuts this is based on good intentions, a framework or agree to agree to spending cuts down the road and this is the criticism that historically, sort of ad nauseam, that there are those good intentions that never through. >> all of the republicans will hear grover norquist recite over and over, every time they promise spending cuts in exchange for tax hikes, the tax hikes came, the spending cuts never came. >> and how long will the road be in terms of what the subpoenaing cuts might or might not be? that will prolong the uncertainty in the market. and with the ceo conference call in the 6:00 hour, that should be very interesting. will we feel the effect of this in the first quarter earnings and gdp, other economic data points. >> it puts republican caucus in the house in the position of having to decide whether no deal is better than a bad deal. >> you know, melissa, if i could chime in, one thing, you didn't hear the president talking about the debt ceiling, and the treasury secretary says we'll start running up against the debt ceiling on monday. that's a very c
cliff. >> spending cuts this is based on good intentions, a framework or agree to agree to spending cuts down the road and this is the criticism that historically, sort of ad nauseam, that there are those good intentions that never through. >> all of the republicans will hear grover norquist recite over and over, every time they promise spending cuts in exchange for tax hikes, the tax hikes came, the spending cuts never came. >> and how long will the road be in terms of what...
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Dec 31, 2012
12/12
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is now on the edge of the fiscal cliff. hours to go until the deadline and as we get closer in theory, the pentagon is getting ready to layoff quite literally thousands of employees because of the automatic spending cuts that go into effect if no deal is reached in d.c. at midnight. we have more on that fall out, hunter? >> how you doing simon? ? yes, just to flush out a little bit of what ber that was talking about, is delaying the spending cuts, down to the wire of the fiscal cliff negotiations. it is an absolute must across the potomac river at the pentagon. there would be a $55 million in spending, about 10% cut in many programs while a lot could be delayed, the most immediate contingency is notifying an estimated 800,000 civilian employees about furloughs in the new year. south carolina senator lindsay graham after he was contacted by secretary of defense leon panetta. >> he says if we do that, it will shoot the defense department in the head and we will have to send out 800,000 layoff notices at the beginning of the y
is now on the edge of the fiscal cliff. hours to go until the deadline and as we get closer in theory, the pentagon is getting ready to layoff quite literally thousands of employees because of the automatic spending cuts that go into effect if no deal is reached in d.c. at midnight. we have more on that fall out, hunter? >> how you doing simon? ? yes, just to flush out a little bit of what ber that was talking about, is delaying the spending cuts, down to the wire of the fiscal cliff...
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Dec 24, 2012
12/12
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thank you. >> thank you. >>> are retail sales diving off the fiscal cliff? we'll talk about how the tax cut debate is impacting the recent christmas shopping economy. and cut! very good. people are always asking me how we make these geico adverts. so we're taking you behind the scenes. this coffee cup, for example, is computer animated. it's not real. geico's customer satisfaction is quite real though. this computer-animated coffee tastes dreadful. geico. 15 minutes could save you 15 % or more on car insurance. someone get me a latte will ya, please? when you lost the thing you can't believe you lost.. when what you just bought, just broke. or when you have a little trouble a long way from home... as an american express cardmember you can expect some help. but what you might not expect, is you can get all this with a prepaid card. spends like cash. feels like membership. >>> senator mike crapo is apologizing for his drunk driving arrest. he said, quoetd, i'm deeply sorry for the actions that resulted in this circumstance. i made a mistake for which i apologi
thank you. >> thank you. >>> are retail sales diving off the fiscal cliff? we'll talk about how the tax cut debate is impacting the recent christmas shopping economy. and cut! very good. people are always asking me how we make these geico adverts. so we're taking you behind the scenes. this coffee cup, for example, is computer animated. it's not real. geico's customer satisfaction is quite real though. this computer-animated coffee tastes dreadful. geico. 15 minutes could save...
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Dec 31, 2012
12/12
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cliff is just a minor blip with you in the long run they actually won a large chunk of what they've been after? >> we're going to have to see what is the impact in the the days ahead. can the republicans somehow turn that around? they certainly, inside the white house believe just the opposite because they believe that john boehner was sort of out maneuvered here, he had been pressing the president, pressing the president for some of his issues and what boehner may have forgotten is at the end of the day if there's no action by the congress, all of the bush tax rates are expiring, so the president is going to get what he's wanted in this debate all along, which is that taxes are going up on the rich and-- >> the president's outmaneuvered the republicans from the very beginning on this. >> ed doesn't have to answer that question. >> and kimberly, we're going to give you the last question, before we go to mike emanuel. >> i have a civilized question for mr. henry. >> and civilized-- >> my goodness, bob. >> it sounds worse than the negotiations on the hill. >> it's worse, thank goodnes
cliff is just a minor blip with you in the long run they actually won a large chunk of what they've been after? >> we're going to have to see what is the impact in the the days ahead. can the republicans somehow turn that around? they certainly, inside the white house believe just the opposite because they believe that john boehner was sort of out maneuvered here, he had been pressing the president, pressing the president for some of his issues and what boehner may have forgotten is at...
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Dec 26, 2012
12/12
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president obama cutting short his annual vacation in hawaii to deal with the fiscal cliff. no sight of congressional leaders. they're not in town. investors getting a little bit nervous. will congress get it together in time? no talks that we know of are imminent. it was by at least one measure, the weakest holiday retail sales growth since the financial crisis back in 2008, but could a post-christmas holiday sales bounce be around the corner? >>> and what a year it has been for tech. gadgets and gizmos. apple, facebook, microsoft all have big news. will 2013 be a lucky year for the sector? which tech titans might lead the new trends? simon hobbs is in at the new york stock exchange. >> good afternoon. when president obama arrives back in d.c., can he prevent america falling over the fiscal cliff? house republicans haven't yet called their members back to washington. our chief political correspondent, john harwood, is with us. john, this feels very much like it might be the calm before the storm in more way than one. >> it could be if we go over the cliff and the storm woul
president obama cutting short his annual vacation in hawaii to deal with the fiscal cliff. no sight of congressional leaders. they're not in town. investors getting a little bit nervous. will congress get it together in time? no talks that we know of are imminent. it was by at least one measure, the weakest holiday retail sales growth since the financial crisis back in 2008, but could a post-christmas holiday sales bounce be around the corner? >>> and what a year it has been for tech....
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Dec 31, 2012
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there's also a series of spending cuts that will also be triggered by the fiscal cliff. $1.2 trillion in sequestration will kick in beginning january 2nd. next year alone, $109 billion will be slashed. half from the defense budget and half from nondefense spending. the so-called doc fix would also go away, reducing medicare payments to doctors by 27%. and finally, unemployment benefits will run out for more than 2 million americans who have lost their jobs. benefits will only be available for up to 26 weeks, a drastic reduction from the 73 weeks available to some out-of-work americans. i want to go to sam stein, but first, dr. sachs, if we go over the cliff, it is the poor americans who will be hit the hardest, correct? >> well, there are parts of that where the poor will be hit the hardest. but if we make a deal right now of the kind that's being talked about, it's going to gut the federal budget for a decade to come. so we're on the brink either of these difficulties right now, which are real, or making terrible decisions that are going to lock us into a situation that we absolutely
there's also a series of spending cuts that will also be triggered by the fiscal cliff. $1.2 trillion in sequestration will kick in beginning january 2nd. next year alone, $109 billion will be slashed. half from the defense budget and half from nondefense spending. the so-called doc fix would also go away, reducing medicare payments to doctors by 27%. and finally, unemployment benefits will run out for more than 2 million americans who have lost their jobs. benefits will only be available for...
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Dec 27, 2012
12/12
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. >> tt is the administration prepared to go over the fiscal cliff? >> oh, absolutely. there's no prospect to an agreement that doesn't involve those rates going up on the top 2% of the wealthiest -- remember, it's only 2%. and all of those americans get a tax cut on the framework of the first $250,000 of their income. >> yeah, yeah, you still get the 250, andrew. they love that. what does oh, absolutely mean, bob? >> maybe it means his favorite movie was "rebel without a cause." >> go the. >> i guess it's letting the other side know you're willing to go eyeball to eyeball with something that is terrible. >> i see both sides pretending to say, yeah, we're doing all we can, but it's almost just like this -- like boehner just said, hey, you guys, you happen, in the democratic-controlled senate, you put a bill together. i'd love to consider it. he can't get his guys to consider a democratic bill. >> as long as they feel like they can blame the other guy, they feel they have cover. this is not really where we want to go with this. this isn't simply miscalculation. this is a
. >> tt is the administration prepared to go over the fiscal cliff? >> oh, absolutely. there's no prospect to an agreement that doesn't involve those rates going up on the top 2% of the wealthiest -- remember, it's only 2%. and all of those americans get a tax cut on the framework of the first $250,000 of their income. >> yeah, yeah, you still get the 250, andrew. they love that. what does oh, absolutely mean, bob? >> maybe it means his favorite movie was "rebel...
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Dec 26, 2012
12/12
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fiscal cliff negotiations with congress. talks fell apart before christmas. the deadline now is just days away and there is no deal in sight to avoid the tax hikes and spending cuts set to go into effect january 1st. our juan williams is a fox news political analyst and he joins us today and very quickly, juan, merry christmas to you. >> merry christmas, kelly. kelly: this is daunting task facing congress to avert the so-called fiscal cliff that will set into motion more than $600 billion in drastic and draconian allic tax hikes and spending cuts. that will cause a lot of pain for all americans and does congress have enough time to act on this? >> they do. you know it will be very close and it may in fact go beyond the deadline per se although people are thinking at the moment it is possible to get something done by the end of this week. the key here, kelly, is the senate. we have been so focused on the house, speaker boehner, plan. about, plan b falling apart. now speaker boehner is pointing towards the senate and the white
fiscal cliff negotiations with congress. talks fell apart before christmas. the deadline now is just days away and there is no deal in sight to avoid the tax hikes and spending cuts set to go into effect january 1st. our juan williams is a fox news political analyst and he joins us today and very quickly, juan, merry christmas to you. >> merry christmas, kelly. kelly: this is daunting task facing congress to avert the so-called fiscal cliff that will set into motion more than $600 billion...
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Dec 28, 2012
12/12
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CSPAN
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during the session, house minority whip steady clear spoke on the fiscal cliff situation. after his remarks, he answered reporters' questions in the briefing room. this is about 25 minutes. we are in a pro forma session. a promo -- pro forma session is without substance or solutions. millions more returned to work today. after taking off time for their holidays. mr. speaker, we have, as you well know, a long list of expiring items that we must complete before the end of the year or we will have adverse consequences to our people. first, i want to say, mr. speaker, that you are one who has been working very hard to assure that we reach a solution. and i want to thank you for that. some of us are here in this chamber today, but very frankly, all of us ought to be here in this chamber today. all the republicans and all the democrats. working so that our people have confidence that although our challenges are tough, we are at least here trying to reach a consensus on solutions to those challenges. mr. speaker, as you well know, on january 1 middle-class taxes will rise. mr. sp
during the session, house minority whip steady clear spoke on the fiscal cliff situation. after his remarks, he answered reporters' questions in the briefing room. this is about 25 minutes. we are in a pro forma session. a promo -- pro forma session is without substance or solutions. millions more returned to work today. after taking off time for their holidays. mr. speaker, we have, as you well know, a long list of expiring items that we must complete before the end of the year or we will have...
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Dec 30, 2012
12/12
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under the mandatory cuts of the fiscal cliff, the federal aviation administration would lose $800 million, and more than 2,000 air traffic controllers. fewer controllers mean fewer planes moving passengers and cargo. warns the air traffic controllers association. >> fb's pocketbook and livelihood is tied to the aviation system, so the impact of the aviation system not being able to provide the service that they do today would be devastating. >> reporter: if washington can't reach a compromise, the economic recovery could stall. if we cannot figure this out, they're putting a bunch of huge and ugly potholes on a road that was supposedly going to get us to economic recovery. >> reporter: in fact, air traffic controllers warn that more than 100 small airports could lose their control towers. jobs and revenue that may never come back. john bentley, cbs news, new york. >> winter storms are spreading across the country, a massive storm that created havoc east of the mississippi is now headed to new england. that storm left a trail of power outages in the southeast after dumping some 15 inches o
under the mandatory cuts of the fiscal cliff, the federal aviation administration would lose $800 million, and more than 2,000 air traffic controllers. fewer controllers mean fewer planes moving passengers and cargo. warns the air traffic controllers association. >> fb's pocketbook and livelihood is tied to the aviation system, so the impact of the aviation system not being able to provide the service that they do today would be devastating. >> reporter: if washington can't reach a...
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Dec 27, 2012
12/12
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timtime to take down the verbal warfare and cut a deal sparing the fallout of the fiscal cliff. gerri: can we get anything with any meaning before the end of the year? >> not get your hopes up on a big deal on the debt. not too many tax increases, some will be in there. avoiding the sequester, the spending cuts, that is the best thing that could happen at this point and i'm pretty optimistic person, i get up every morning thinking good things will happen but this is causing me to drink every night so i did not know if i will get there or not. gerri: you glass half-full kind of guy. i hope your champagne glasses more than half full on new year's. have a good one. while the chances of lawmakers reaching a deal seemed to be slim to none, you'll be glad to know some state lawmakers will% be warned though much more productive. here are some of our favorites. let's start with illinois. starting in 2013 and new law gives motorcyclists be okay to run red lights. leave it or not. after complaints from cyclist who say light sensors don't see the cycles. and the okay for computer-driven ca
timtime to take down the verbal warfare and cut a deal sparing the fallout of the fiscal cliff. gerri: can we get anything with any meaning before the end of the year? >> not get your hopes up on a big deal on the debt. not too many tax increases, some will be in there. avoiding the sequester, the spending cuts, that is the best thing that could happen at this point and i'm pretty optimistic person, i get up every morning thinking good things will happen but this is causing me to drink...
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Dec 31, 2012
12/12
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defense sector facing major cuts if we do go over the fiscal cliff. how that industry will be affected if we don't get a deal today, we'll talk about that after the break. stay with us. any way you want. fully customize it for your trading process -- from thought to trade, on every screen. and all in real time. which makes it just like having your own trading floor, right at your fingertips. [ rodger ] at scottrade, seven dollar trades are just the start. try our easy-to-use scottrader streaming quotes. it's another reason more investors are saying... [ all ] i'm with scottrade. >>> they say the biggest priority is making sure we deal with the debt in a serious way. the way they're behaving is their only priority is making sure that tax breaks for the wealthiest americans are protected. >> there's no single issue that remains an impossible sticking point. the sticking point appears to be a willingness and interest, or frankly, the courage to close the deal. >> the deadline to get a deal done, steadily getting closer and closer. the defense industry wi
defense sector facing major cuts if we do go over the fiscal cliff. how that industry will be affected if we don't get a deal today, we'll talk about that after the break. stay with us. any way you want. fully customize it for your trading process -- from thought to trade, on every screen. and all in real time. which makes it just like having your own trading floor, right at your fingertips. [ rodger ] at scottrade, seven dollar trades are just the start. try our easy-to-use scottrader...
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487
Dec 30, 2012
12/12
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KPIX
tv
eye 487
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. >> reporter: the fiscal cliff preoccupation hab about taxes but there's another part, across-the-board cuts, and they are preparing to send out furlough noticees, and apply want quester. >> o'donnell: the white house is preparing to do that? >> reporter: it that's. because the deadline is approaching. it cannot reasonably ignore the law, and misapplying. so it is now preparing to send out a variety of notices to federal contractors, the contract is suspended or canceled. or to tell various agency the-- the t.s.a., f.a.a., all through the federal government, lay people off, this is real, because they seaport negotiations are not getting anywhere near a deal and they have to prepare for the cutting side of the fiscal cliff, not just the taxes. >> o'donnell: and, nancy, if there is no deal, what happens next on monday? >> reporter: essentially we move to plan b, where senates democrat introduce their own plan in the senate that caps the bush tax cuts ap at $250,000 or less, extends long-term unemployment benefits, maybe imposing spending cuts to push off the sequester for six months or a
. >> reporter: the fiscal cliff preoccupation hab about taxes but there's another part, across-the-board cuts, and they are preparing to send out furlough noticees, and apply want quester. >> o'donnell: the white house is preparing to do that? >> reporter: it that's. because the deadline is approaching. it cannot reasonably ignore the law, and misapplying. so it is now preparing to send out a variety of notices to federal contractors, the contract is suspended or canceled. or...
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272
Dec 28, 2012
12/12
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FOXNEWSW
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eye 272
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nothing going over the fiscal cliff. let the tax cut expire. come back in, offer the tax cuts for people under 250. call them obama cuts and get it going. if you are in congress. you make $175,000 a year. you get vacation days off. they go back and smoke cigars, eat steak, drink wine and laugh. >> andrea: is there something wrong with eating and drinking? if with pay them to do it. >> eric: they want to hit the buffet line. >> andrea: do it on their own time. not when the country is in a financial crisis. i think obama gets a superhero cape after this. >> andrea: people say republican goes down either way on this. but the house and the senate, this last election by blaming republicans. does he think he will get blamed for this? no. he figures i can do whatever i want. leave the republicans out for dead. >> eric: he is winning the messaging game. that is clear. >> andrea: i say that with confidence. he was able to say look, i was willing to meet them halfway. more than 50%. they don't want to work with us together. he is coming off strong, comin
nothing going over the fiscal cliff. let the tax cut expire. come back in, offer the tax cuts for people under 250. call them obama cuts and get it going. if you are in congress. you make $175,000 a year. you get vacation days off. they go back and smoke cigars, eat steak, drink wine and laugh. >> andrea: is there something wrong with eating and drinking? if with pay them to do it. >> eric: they want to hit the buffet line. >> andrea: do it on their own time. not when the...
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Dec 27, 2012
12/12
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CNNW
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eye 214
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we're talking about the tack increases, the spending cuts that make up the fiscal cliff. president obama, he cut his christmas vacation short to deal with this crisis. he arrived back from hawaii just a short time ago, and the senate also returning to work today hoping to come up with some kind of agreement. but time is running out. jessica yellin, she has the latest from the white house. we've got dana bash following the developments on capitol hill. i want to start off with you, dana. what do we know about a possible compromise on the senate siepd what they might be proposed in fairly short order? >> compromise, i'm not so sure we'll see that. but i was told by a republican senator and democratic senator that the pr indicated before he left for hawaii that he, the president, is expected to send a piece of legislation up today with his scaled back tax plan. that's something that the president outlined in general terms on the friday before he left for hawaii and since then what we've been hearing from republicans, particularly mitch mcconnell's office is we can't talk abo
we're talking about the tack increases, the spending cuts that make up the fiscal cliff. president obama, he cut his christmas vacation short to deal with this crisis. he arrived back from hawaii just a short time ago, and the senate also returning to work today hoping to come up with some kind of agreement. but time is running out. jessica yellin, she has the latest from the white house. we've got dana bash following the developments on capitol hill. i want to start off with you, dana. what do...
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80
Dec 28, 2012
12/12
by
FBC
tv
eye 80
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if the fiscal cliff hits. i mean, this is the wrong posture. we don't want people that create jobs, people that decide how many people will be hired in the next year to be having -- to have bad karma now. we want people looking forward in a positive way, how we're going to grow into new markets, how to export more. we need the country to be more competitive so we can export to china, mexico, export to canada. that's critical, growth. if we have growth, we hire more people. dagen: drew, thank you, great to see you. happy new year. >> thank you, go rg iii. dagen: yeah, babe! we'll kick the cowboys you know what into mexico. drew, thank you, be well. end on a positive note. positive newses too for the housing market, recovery on the way. anthony sanders is here saying washington better not screw it up. in a show of arms, iran's military moves and what that means for the price of oil and gasoline here at home. look at how oil is trading today, well above $90 barrel a mark, down just slightly, but close to 91 bucks
if the fiscal cliff hits. i mean, this is the wrong posture. we don't want people that create jobs, people that decide how many people will be hired in the next year to be having -- to have bad karma now. we want people looking forward in a positive way, how we're going to grow into new markets, how to export more. we need the country to be more competitive so we can export to china, mexico, export to canada. that's critical, growth. if we have growth, we hire more people. dagen: drew, thank...
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Dec 28, 2012
12/12
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FOXNEWSW
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gregg: this lawmakers do not reach a deal with regard to the fiscal cliff cuts will go into the defense department. >> reporter: the whole package of spending cuts is $1.2 trillion, half to the defense department. the army, navy, air force marines would take equal cuts according to one analyst who says the impact on the military overall will be, quote, very serious. >> the pentagon and the departments are already in financial trouble, because there has already been a $480 billion cut that is being applied right now as we speak. to take another cut on top of that is devastating. >> reporter: it's not just the military itself that will take a hit, also the defense industry, defense contractors, private companies that do work for the pentagon. one democratic congressman in northern virginia whose district maybe hit the hardest by all of this says it could mean layoffs. >> the large defense contractors will probably be okay, they have significant cash reserves, most of them. the smaller contractors would have trouble getting their lines of credit extended, trouble keeping their employees, i
gregg: this lawmakers do not reach a deal with regard to the fiscal cliff cuts will go into the defense department. >> reporter: the whole package of spending cuts is $1.2 trillion, half to the defense department. the army, navy, air force marines would take equal cuts according to one analyst who says the impact on the military overall will be, quote, very serious. >> the pentagon and the departments are already in financial trouble, because there has already been a $480 billion...
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59
Dec 26, 2012
12/12
by
CNBC
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eye 59
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i would rather see a much bigger fiscal cliff in the way of government spending cuts. that's what we really need. but if we're not going to do that, we're not going to cut spending, then the middle class has to brace for the bad news. they have to pay for all this government and the best way to do it is with taxes. unfortunately, taxes on the rich are not going to work. they are already overtaxed. it's the middle class that's going to have to pay more if we want all this government. >> do you think they can, peter, without destroying the economy? because the question i asked extensively last week is why is a couple hundred dollar tax rise to the middle class a doom now, but during the clinton era, it was praised? >> well, people don't have the home equity they had back then and they don't have the stock market wealth they had back then. >> costs have gone up. >> inflation, inflation has -- look at how much gas costs now compared to what it cost back then. food is a lot more expensive. look, the economy is buckling under the weight of all this government. no, i don't th
i would rather see a much bigger fiscal cliff in the way of government spending cuts. that's what we really need. but if we're not going to do that, we're not going to cut spending, then the middle class has to brace for the bad news. they have to pay for all this government and the best way to do it is with taxes. unfortunately, taxes on the rich are not going to work. they are already overtaxed. it's the middle class that's going to have to pay more if we want all this government. >> do...
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Dec 26, 2012
12/12
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CNBC
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eye 74
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let's hit today's options action, of course, scott nations, we've been talking about the fiscal cliff. you talk about that, talk about going over the cliff, sequestration and defense spending cuts. what did you see today in the defense names?dynamics, which is just going to be in the cross hairs, we saw somebody roll their productive puts up. we've been talking about put buying in all of these names and in general dynamics, we saw somebody roll up from the january 62 half puts to the 65 puts. so, they bought that spread, they bout the jan half spread 12,000 times and they rolled their puts up to the 65 strike. they are now long the 65 puts and they're long in an effective price of about $1.15. meaning they are protected down to $63.85. that's quite a ways from where the stock closed today, but you know, if the fiscal cliff gets any messier, then we can be there pretty quickly. >> yeah. guy, this was your trade that you recommended, should we reach a deal on the cliff. monster run, all the defense stocks since the beginning of november. >> i traded on the long side. i understand why pe
let's hit today's options action, of course, scott nations, we've been talking about the fiscal cliff. you talk about that, talk about going over the cliff, sequestration and defense spending cuts. what did you see today in the defense names?dynamics, which is just going to be in the cross hairs, we saw somebody roll their productive puts up. we've been talking about put buying in all of these names and in general dynamics, we saw somebody roll up from the january 62 half puts to the 65 puts....
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216
Dec 31, 2012
12/12
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MSNBCW
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eye 216
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mixed with a fairly bad economic impact from the fiscal cliff. kicking some of the sequester down the road would be a good idea but it's the same disagreements keeping us from doing that that has kept us from getting a bigger deal. >> where we are right now and what we know about this, sam, is it clear whether one side gave more than the other? >> you know, it's just the first chapter of a several-chapter book here because now we're going to have to deal with the debt ceiling fight and republicans have been calculating that they want to extract some concessions from the white house on that. that can't be considered separate from what we're talking about today. of course, we have to do the sequestration and what will happen with those cuts. so it's too early to tell who wins, who loses. i'll add to ezra, the big losers i guess are us, and me in particular standing out here in the cold on new year's eve over a manufactured crisis. >> there are a lot of us who did not expect to be here at 5:31 eastern time on new year's eve. we shall say that. let m
mixed with a fairly bad economic impact from the fiscal cliff. kicking some of the sequester down the road would be a good idea but it's the same disagreements keeping us from doing that that has kept us from getting a bigger deal. >> where we are right now and what we know about this, sam, is it clear whether one side gave more than the other? >> you know, it's just the first chapter of a several-chapter book here because now we're going to have to deal with the debt ceiling fight...
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1.5K
Dec 25, 2012
12/12
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CNNW
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tell us a little bit about the fiscal cliff here. we know the senate is going to come back on thursday. do we expect the presidt to come back to washington and deal with trying to avoid these tax increases and the spending cuts? >> it really does sound like he'll be coming back, suzanne. it is not official. the white house hasn't put out a schedule update. it seems to be more a matter of when he is coming back rather than if. the senate will reconvene thursday. all eyes there as senate majority leader harry reid tries to cobble together something that can get some republican support. we'll be waiting to see exactly when president obama is coming back but we understand that the senate even though it reconvenes on thursday may not, senate democrats may not roll out a bill until closer to the new year. also get some republican support and put pressure on the house to take it up. >> we'll be following that very closely. have a wonderful christmas and of course we'll talk with you a little bit later. if there are any developments on the f
tell us a little bit about the fiscal cliff here. we know the senate is going to come back on thursday. do we expect the presidt to come back to washington and deal with trying to avoid these tax increases and the spending cuts? >> it really does sound like he'll be coming back, suzanne. it is not official. the white house hasn't put out a schedule update. it seems to be more a matter of when he is coming back rather than if. the senate will reconvene thursday. all eyes there as senate...
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Dec 30, 2012
12/12
by
CNNW
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. >> here in washington there is still hope a deal can be cut in time to avert the fiscal cliff. on saturday the president was at work here in the white house, but all eyes were on the senate where negotiators were trading deal points and revenue figures to try to reach an agreement all sides can stomach. the baseline for the president, any bipartisan bill has to extend unemployment insurance that would affect some 2 million americans, and increase taxes for the highest income earners. negotiators can still work out exactly where that tax increase would hit and whether they would halt an increase in the estate tax. in case those discussions break down, the president has asked democratic leader harry reid to prepare a separate bill to put on the floor of the senate that would raise taxes on households that earn $250,000 or more. that's really a democratic proposal, and you can expect republicans to block it. rather than thinking of that as a stop gap measure, you should probably think of it it as a political measure to shift the responsibility for failure onto republicans just bef
. >> here in washington there is still hope a deal can be cut in time to avert the fiscal cliff. on saturday the president was at work here in the white house, but all eyes were on the senate where negotiators were trading deal points and revenue figures to try to reach an agreement all sides can stomach. the baseline for the president, any bipartisan bill has to extend unemployment insurance that would affect some 2 million americans, and increase taxes for the highest income earners....
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Dec 26, 2012
12/12
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MSNBCW
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eye 124
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interesting to see -- >> i know you have to go, the fiscal cliff -- the fiscal cliff wants to cut money from mental health services. >> indeed. mr. michael nutter of philadelphia, we appreciate it. >>> let's shift back to the fiscal cliff and the art of the possible with one of the lawmakers that will have to pass a vote if a deal is consummated, kay bailey hutchison, member of the appropriations committee and republican from texas, she joins me now. thanks so much for being on the program. >> thank you, luke. >> so we know now the ball is in the senate's court, emphasis is now on harry reid and mitch mcconnell. seems the house is not in session. johnny isakson, your colleague from georgia said congress should pass the $250,000 and below deal because that's what's going to happen afterwards. do you think that should happen? >> i do not. i think $250,000 is too low a threshold. a lot of working people who are couples would exceed that. however, i talked to some of my democratic colleagues and they are saying maybe in the $400,000 or $500,000 category we could set a benchmark. i do think
interesting to see -- >> i know you have to go, the fiscal cliff -- the fiscal cliff wants to cut money from mental health services. >> indeed. mr. michael nutter of philadelphia, we appreciate it. >>> let's shift back to the fiscal cliff and the art of the possible with one of the lawmakers that will have to pass a vote if a deal is consummated, kay bailey hutchison, member of the appropriations committee and republican from texas, she joins me now. thanks so much for...
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Dec 26, 2012
12/12
by
FBC
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tonight to work on a fiscal cliff deal. now, if the stakes weren't high enough, the treasury department upped ante just a short time ago. it announced the u.s. will hit the debt ceiling on december 31st that is monday. treasury department is undertaking and this is a quote, extraordinary measures to postpone the country's date with the debt deadline, but will this bring a new sense of urgency and motivate politicians to reach a budget deal. joining us now, lindsey piegza, economist with ftn financial and james freeman, assistant editor of "the wall street journal"'s editorial page. james, i will start with you. does the treasury department's statement literally within the last hour we'll hit the debt ceiling deadline on monday, does that add any kind of motivation they need to get their act together in washington? >> i don't know. i think it might just add a little skepticism. you remember when we went through this at 2011. they had various dates, finally months into it in august they said this is the real deadline. knowing
tonight to work on a fiscal cliff deal. now, if the stakes weren't high enough, the treasury department upped ante just a short time ago. it announced the u.s. will hit the debt ceiling on december 31st that is monday. treasury department is undertaking and this is a quote, extraordinary measures to postpone the country's date with the debt deadline, but will this bring a new sense of urgency and motivate politicians to reach a budget deal. joining us now, lindsey piegza, economist with ftn...
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Dec 27, 2012
12/12
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MSNBCW
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let's take a look at the so-called fiscal cliff. the bush tax cuts will expire. everyone, even republicans know if we go over the cliff, the bush tax cuts will be restored for at least 98% of americans. payroll taxes will go back to normal in 2013. the payroll tax cut was always intended to be a temporary measure. the alternative minimum tax would hit middle class americans. year after year, this has been fixed by lawmakers and like everything else notice fiscal cliff, it can be done retroactively. the harshest effects of spending cuts could be modified in the first month or two of 2013. in fact, the defense department, the irs and other government agencies are planning no immediate changes because they're anticipating some kind of deal. that leaves the unemployed, extended unemployment insurance will expire immediately if we go over the cliff. a deal later in january could theoretically restore extended benefits, the immediate damage will have already been done. for many people, this is all an interesting charade. but for the unemployed it's the real deal. get y
let's take a look at the so-called fiscal cliff. the bush tax cuts will expire. everyone, even republicans know if we go over the cliff, the bush tax cuts will be restored for at least 98% of americans. payroll taxes will go back to normal in 2013. the payroll tax cut was always intended to be a temporary measure. the alternative minimum tax would hit middle class americans. year after year, this has been fixed by lawmakers and like everything else notice fiscal cliff, it can be done...
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Dec 27, 2012
12/12
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. >> the president is cutting his hawaii vacation short to deal with the fiscal cliff. >> really, it's kind of like falling down stairs. we have a dysfunctional congress. >> speaker boehner needs to bring his party along. >> it's pretty clear that he could not bring them along. >> john boehner doesn't seem to have full control of his caucus. >> they were this close. >> the republicans will be blamed. >> they were this close to a solution. >> we're going to head over that cliff. >> i know it's hard for the republicans. the minute those leaders move forward, they get viscerated. >> guns shouldn't be available for anyone, any time, anywhere. >> the conversation still wages on. >> its plan to add more guns to schools. >> a completely dumb-ass idea. >> i don't think the nra is listening. >> you can call it whatever you want to call it. >> congress hasn't confirmed the director of the bureau of alcohol, tobacco and firearms. >> dysfunctional, dysfunctional, dysfunctional congress. >> we're not going to allow what has happened in the past to go on. >> congress has just three business days to
. >> the president is cutting his hawaii vacation short to deal with the fiscal cliff. >> really, it's kind of like falling down stairs. we have a dysfunctional congress. >> speaker boehner needs to bring his party along. >> it's pretty clear that he could not bring them along. >> john boehner doesn't seem to have full control of his caucus. >> they were this close. >> the republicans will be blamed. >> they were this close to a solution. >>...
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137
Dec 26, 2012
12/12
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WBAL
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eye 137
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. >>> president obama cuts his christmas vacation short as the clock ticks down on the so-called fiscal cliff. >>> and christmas around the country. why are movies so long. and the long high heft speed train 2. "early today" starts now. >> announcer: this is "early today" for wednesday, december 26ing, 2012. >>> and a very good morning to you, i'm richard lui. christmas was anything but merry on wednesday. at least three deaths are blamed on a weather storm that spawns tornadoes in four states and dumped snow as far as texas. nbc's chris pallone has the latest from alabama. >> oh, wow, oh, jesus, look at that tornado. >> reporter: in mobile, alabama, a christmas surprise no one wished for. a tornado that touched down right near the emergency center. the twister left lots of damage at its waking blowing out first and second floor floor windows. and tearing off the roof at the high school. with trees and power lines down, tens of thousands are without electricity. the storm sent people scrambling for cover. >> one of the customers looked out the window, and he said there's a tornado comin
. >>> president obama cuts his christmas vacation short as the clock ticks down on the so-called fiscal cliff. >>> and christmas around the country. why are movies so long. and the long high heft speed train 2. "early today" starts now. >> announcer: this is "early today" for wednesday, december 26ing, 2012. >>> and a very good morning to you, i'm richard lui. christmas was anything but merry on wednesday. at least three deaths are blamed on...
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Dec 31, 2012
12/12
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CNNW
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eye 286
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so too will the fiscal cliff. $600 billion worth of tax increases and spending cuts. it is supposed to be automatic. but now republicans are suggesting a delay, the president just spoke trying to add pressure to congress to avoid going over the fiscal cliff. listen. >> my preference would have been to solve all these problems in the context of a larger agreement, a bigger deal, a grand bargain, whatever you want to call it, that solves our deficit problems in a balanced and responsible way that doesn't just deal with the taxes, but deals with the spending in a balanced way, so that we can put all this behind us focusing on growing our economy. but with this congress, that was obviously a little too much to hope for at this time. >> let's turn now to chief white house correspondent jessica yellin. let's talk a little bit about the outlines of the deal, the fact that the president came out to make his case and try to push this thing over the finish line. what does the white house have to do to gain the backing it needs. >> reporter: well, what we heard from the presiden
so too will the fiscal cliff. $600 billion worth of tax increases and spending cuts. it is supposed to be automatic. but now republicans are suggesting a delay, the president just spoke trying to add pressure to congress to avoid going over the fiscal cliff. listen. >> my preference would have been to solve all these problems in the context of a larger agreement, a bigger deal, a grand bargain, whatever you want to call it, that solves our deficit problems in a balanced and responsible...
366
366
Jan 1, 2013
01/13
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CNNW
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eye 366
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now it is up to the house to stop the fiscal cliff. that's $600 billion of automatic tax hikes and spending cuts. at this hour, though, a vote by the house is not yet scheduled. a multiple representative took to the store today floor today vote would be no. >> i wish i could say this was a proud moment, a moment in which we started the year off right, in which the first of january was the first of great many good things. it isn't. we're kicking the can down the road. and worse than that, when faced with a mountain of debt that we were heading for, like an airplane, did we climb over it? no. what we're going to do in the present plan is put nearly another trillion dollars worth of debt on the american people. >> well, joining us now from capitol hill, representative peter welsh, democrat of vermont. we see some democrats moving to the podium. they are also scheduled to speak. congressman welsh, we don't want to interrupt you. so nancy pelosi stepping to the podium. let's take a quick listen. >> well, we just finished a standing room onl
now it is up to the house to stop the fiscal cliff. that's $600 billion of automatic tax hikes and spending cuts. at this hour, though, a vote by the house is not yet scheduled. a multiple representative took to the store today floor today vote would be no. >> i wish i could say this was a proud moment, a moment in which we started the year off right, in which the first of january was the first of great many good things. it isn't. we're kicking the can down the road. and worse than that,...
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180
Dec 29, 2012
12/12
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FOXNEWSW
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eye 180
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to government spending. >> now, you mentioned two years ago shall the spending cuts, the fiscal cliff, it was designed to force washington to deal with the nation's long-term debt problem. and instead, here we are, a final hour, who knows what will happen next and i want to specifically ask you about the lack of progress on those structural issues like entitlement spending because even the plan c isn't touching that. so that means regardless of what happens before january 1st, investors will then be dealing with a certain degree of political risk long-term after the fiscal cliff deadline has passed. so, how will that affect the market on the economy in terms of spending cuts? >> well, my fear is that the compromise will be that we get the tax increases and they postpone the spending cuts and that's the ultimate objective. >> yes he. >> and you know, that is something that the economy will recover from and something will adjust to. remember, about half of the increased taxes on the average individual come from simply the roll off of that fica tax break we received the last two years, s
to government spending. >> now, you mentioned two years ago shall the spending cuts, the fiscal cliff, it was designed to force washington to deal with the nation's long-term debt problem. and instead, here we are, a final hour, who knows what will happen next and i want to specifically ask you about the lack of progress on those structural issues like entitlement spending because even the plan c isn't touching that. so that means regardless of what happens before january 1st, investors...
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short his hawaiian vacation to get back to fiscal cliff negotiations but given that he and democrats have put everything they can on the table and republicans still won't compromise what hope is there in striking a deal that doesn't leave the middle class high and dry and later the funerals for newtown connecticut victims may have finally ended but unfortunately funerals for gun victims in america never truly stop another story of a mass shooting and how the n.r.a. is more interested in saving profits than saving lives. and we did tonight with occupy wall street during the heyday of the occupy movement last year if you were lucky enough to walk through one of the encampments says i was frequently here at occupy d.c. good to see a community built as an example of what our nation should be striving for you would've seen hell. care provided for free no for profit health insurance leeches looking to squeeze as much money as they can out of the family caring for a sick child you also want to see education provided for free and healthy food provided for free and shelter provided for free s
short his hawaiian vacation to get back to fiscal cliff negotiations but given that he and democrats have put everything they can on the table and republicans still won't compromise what hope is there in striking a deal that doesn't leave the middle class high and dry and later the funerals for newtown connecticut victims may have finally ended but unfortunately funerals for gun victims in america never truly stop another story of a mass shooting and how the n.r.a. is more interested in saving...
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170
Dec 28, 2012
12/12
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WUSA
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a deal to avoid the so-called fiscal cliff. in ten days across h board-spends cuts take effect. >>> if president obama and congress fails to reach an agreement the price of milk could lead sharply. john blackstone reports. >> who wants milk? >> me. >> me. >> me. >> reporter: with four children the rasmussen family in california drinks about five gallons a week on milk. if congress doesn't pass the bill, i would cost him $106. >> they have to have their milk. we might have to cut elsewhere. >> reporter: back then the process was more laborious and farmers needed a higher subsidy to cover their costs. dan sumner says the new price of milk will with far above what it now costs dairy farmers to produce it. >> it really will be chaos. >> reporter: so we would go back to this old farm bill which would force the government to buy milk at an extremely high price. >> that's right. >> reporter: this could be a windfall for dairy farmers. >> here's the problem. they don't want chaos. it sounds good, everybody will double or about triple t
a deal to avoid the so-called fiscal cliff. in ten days across h board-spends cuts take effect. >>> if president obama and congress fails to reach an agreement the price of milk could lead sharply. john blackstone reports. >> who wants milk? >> me. >> me. >> me. >> reporter: with four children the rasmussen family in california drinks about five gallons a week on milk. if congress doesn't pass the bill, i would cost him $106. >> they have to have...
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Dec 31, 2012
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if congress and the president are going try to stop the nation from going over the fiscal cliff. tax hikes and spending cuts are just hours away. >>> despite the looming cliff, party preparations are under way on this new year's eve, as we welcome 2013. >>> and moengs nal and triumphant return to the sidelines. for indianapolis colts coach chuck pagano. seems his inspired season is not over yet. >>> good morning, i'm john muller sitting in for rob nelson. >> and i'm paula faris. >>> it looks like secretary of state hillary clinton will be celebrating the new year from a hospital bed. >> during a routine checkup for an earlier concussion, doctors discovered she had a blood clot. he's abc's dierdre bryant. >> reporter: secretary of state hillary clinton was admitted to the hospital on sunday with a blood clot. her doctors discovered it in a followup exam for a concussion sufferered earlier in the month. >> with time and with medication, the clot will dissolve. it won't propagate further. won't cause a clot to the lung. it will recover -- someone that has this will recover fully. >>
if congress and the president are going try to stop the nation from going over the fiscal cliff. tax hikes and spending cuts are just hours away. >>> despite the looming cliff, party preparations are under way on this new year's eve, as we welcome 2013. >>> and moengs nal and triumphant return to the sidelines. for indianapolis colts coach chuck pagano. seems his inspired season is not over yet. >>> good morning, i'm john muller sitting in for rob nelson. >> and...
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Dec 31, 2012
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so now you've got everything happening as we expected on the fiscal cliff. the sequestration, the spending cuts, and the tax increases. which as we know will lead to a recession in 2013 likely. >> okay. we got to leave it there. >> all right. thank you. good job. happy new year. i don't know if this means you won the bet or not. i can't decide. what's that? >> i think i won the bet. i didn't want to win the bet. >> wooe'll talk. happy new year, kid. >>> keep it here for the latest on the cliff developments. we're not done with this yet. america's economy held hostage gips at 6:00 p.m. eastern time tonight. >> indeed it does. >>> also insiders view now it is a fact we are going over the cliff. what does it mean when we start trading on wednesday? >>> when we come back, a couple of technology pros gaze into their crystal balls this new year's eve. one of them thinks facebook will buy netflix and microfox will take over research in motion. oh, yeah? we'll talk about that coming up. [ male announcer ] at scottrade, we believe the more you know, the better you tr
so now you've got everything happening as we expected on the fiscal cliff. the sequestration, the spending cuts, and the tax increases. which as we know will lead to a recession in 2013 likely. >> okay. we got to leave it there. >> all right. thank you. good job. happy new year. i don't know if this means you won the bet or not. i can't decide. what's that? >> i think i won the bet. i didn't want to win the bet. >> wooe'll talk. happy new year, kid. >>> keep it...